Financial Statement Analysis Using ratios in financial statements analysis The following financial data are adapted from the annual reports of Leargear Corporation Leargear Corporation Four-Year Selected Financial Data Years Ended December 31, 2018, 2017, 2016, and 2015 2017 2018 2016 2015 Operating Results S 13,848 $ 13,673 $11,635 9,054 Net Sales Cost of goods sold 8,599 8,715 6,775 5,318 Interest expense Income from operations Net earnings (net loss) 109 75 45 46 1,675 1,450 1,445 1,817 1,333 877 1,127 824 Cash dividends 76 75 76 Financial Position 1,550 7,591 Merchandise inventory 1,904 1,462 1,056 Total assets 7,012 5,189 3,963 Current ratio 1.48 0.95 1.25 1.20 Stockholders' equity Average number of shares of common stock outstanding (in thousands) 2,928 2,630 3,010 1,574 850 879 895 576 Use the blue shaded areas on the ENTERANSWERS tab for inputs Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be marked wron Requirement Compute the following ratios for 2016 through 2018: inventory turnover, gross margin (profit) percentage, operating income (profit) percentage, rate of return on sales, asset turnover, rate of return on assets, leverage ratio, rate of return on stockholders' equity, times interest earned, and earnings per share Use the DuPont formula for ROA and ROE. a. b. Use cell references from prior calculations, if applicable Compute the following ratios for 2016 through 2018: inventory turnover, gross margin (profit) percentage, operating income (profit) percentage, rate of return on sales, asset turnover, rate of return on assets, leverage ratio, rate of return on stockholders' equity, times interest earned, and earnings per share. (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be marked wrong. Use cell references from prior calculations, if applicable.) 2018 2017 2016 Inventory turnover Gross profit percentage Operating income percentage Rate of return on sales Asset turnover Rate of return on assets (ROA) Leverage ratio Rate of return on stockholders' equity (ROE Times-interest-earned ratio Earnings per share improved deteriorated